Tips to Maximize Your Rental Returns
                     Tips to Maximize  Your 
Rental  Returns
Investment properties bring rental returns but do you know that the appearance of your investment 
property shares a direct  relation with the income you will receive. Also, the presentation of the property 
has a clear connection with the tenants it will  attract?
First impression is the last one. This holds true for properties too. If you are someone who has investment 
property and are  seeking maximum returns, then you would never want to miss out on making a great 
opening impression. You never know, this  may turn out to be the decisive factor in determining whether 
there will be a second chance or not.
So, if you want to increase returns on your investment property, the very first thing you will have to do is 
– look at its  appearance. No kidding! Half of the tenants will be attracted to your property because of its 
appearance. Other than this, you  might need more improvements on the property. Once you do these, 
you can significantly increase the amount you want to  charge from the tenants.
You must be wondering what type of improvements you can bring to your property. Well, there is a 
fine line between the  improvements that you can bring so that you have all the rights to increase the 
rent that too authentically.
You will have to increase the rental income in a manner that does not leave the property over-
capitalized. So, before you  embark on the journey, make sure you think over it and then move ahead 
with the process.
How would you even do it? Through effective and long-term planning. Anything that concerns the 
property matters must be  handled with utmost care and thinking so that you do not end up making 
extravagant purchases.
Increasing the rental income is one of the key points in becoming a smart investor and believe me, it 
isn’t that difficult or  expensive as you may think.
So, let me take you through the steps that are not just simple but also very effective in bringing a major 
difference to the rental  income.
Street Appearance
Have you ever passed by a house and uttered the words Wao? Or 
have you ever  said, what a beautiful home! If yes, then, this is 
exactly you have to do with your  investment property. Make it 
appealing, attractive, and praise-worthy so that  the passer-by 
turns the head and waits for a second to see how beautiful is the  
property.
For receiving such admiration, all that you would need is some 
time. Yes, you  read it right! Some time to pay attention to what 
can be improved without  having to affect your pocket.
Just take out time from your hectic schedule and focus on the 
front of the  house. If your investment property has a front 
garden, then spend some time  tidying up the garden beds, 
removing weeds, cleaning the paths, painting the  fence, and 
cleaning the windows and the doors.
If you own the apartment, then perhaps you should add window 
boxes, clean  the front door and give it a fresh coat of paint. You 
can add the front door mat  and make the floor more welcoming.
A good first impression sets renters up for liking the property and 
also wanting  to pay more for a place that has been looked after 
properly.
Work on the Bathroom
Hygiene is another important factor that must not be overlooked. 
People often  are ready to pay more for houses that have clean, 
hygienic bathrooms. They are  ready to live in houses with pristine 
and well-maintained bathrooms. However,  this does not mean that 
you need to spend hefty amount on re-doing the  bathroom.
Suppose, if the bathroom tiles are broken or even have cracks, you 
can spend  some on getting new tiles. But if the tiles are stained, 
outdated, you certainly do  not need any replacement. Just clean 
them or you can even paint over them  with tile paint and give 
your bathroom a fresh and clean look.
Yes, you can replace old shower curtains, showerheads, and 
fixtures, if need be.  These are relatively cheap fixes but make a 
huge difference. These will create a  cleaner and a modern space 
for renters to fall in love with.
Practice it and see the change it brings.
Makeover of Kitchen
Just like bathroom, Kitchen is the heart of every home and believe 
me, renters  are happy to pay more for big, spacious, clean and 
well-managed kitchen.
Again, you do not have to break the back to get a renovated 
kitchen. It is just a  common misconception.
A coat of fresh paint can work wonders in making your kitchen 
stare worthy.  You can also try and swap the cabinet doors and give 
your kitchen an entire new  look.
If you think new doors are outside your budget, you can just get the 
handles and  knobs of cupboards and drawers replaced. Just like 
buyers, renters also  appreciate nice appliances. So, if yours are a 
bit messy, have got rust on them, or  are even old-fashioned, 
consider replacing the dishwasher, fridge or oven.
Having such appliances at home will benefit you eventually. Even 
though you  might have to invest at first but remember it is a 
long-term investment. The  tenants will come and go but the 
appliances will be there. So, make sure the  electric and daily 
use appliances are functional. Believe me, renters will pay  more 
for more facilities you provide within the investment property.
Street Parking
Everyone needs a space for the security of their vehicles. If your 
investment  property has a garage, it will definitely be a bonus, 
especially if your rental is  in a high-density living area like in 
the inner city or in a beachside suburb.
Not just this, the closer your place is to the city, the more 
value the parking  space will add to your investment property. 
Even if you add a carport or  create a driveway, tenants will be 
ready to pay more.
Add Living Spaces
More bedrooms, more will be the rent.
If you cannot add another bedroom, you can get a sunroom installed. A sunroom 
enhances real estate  value of home. Besides, it also adds to the aesthetics of the place. 
Moreover, sunroom can also be used as  an extra room. Use it for any purpose, 
entertainment area, living room, dining room, or anything that you  may want.
The option of adding a sunroom is feasible if the layout of your property does not allow 
for an additional  room.
If there is space, add an additional room. Needless to say, it will pay 
you higher rent.  Add More Storage
Tenants love storage. Easy and cheap additions such as wardrobes in bedrooms will 
increase the appeal  and also the rental value.
Tenants like the spaces that allow them to live in the space with enough rooms for 
their belongings.
A Pet-Friendly Property Will Pay More
Pet-friendly properties are highly in demand.
The properties that do not allow pets may have a great 
chance of losing  potential tenants.
People who love pets would definitely search for properties 
that are pet-  friendly. After-all, they would not leave their 
pets behind and live without  them.
This is quite understandable that pets can be a risk to 
investors. But if you  want to reap the rewards of increased 
rent from pet owners, it is suggested  to place some property 
safeguards in the contract. Like carpet cleaning at  the expense 
of the renter or pet-related damages to be paid by the renter.
Light Up the House
Darkness will not appeal anyone.
With simple fixes such as cleaning light fittings or replacing 
non-functional  bulbs with bright lights, this problem can be 
fixed.
More light spaces in the house fosters the sense of welcome, 
gives positive  vibes and also allow for a better sense of 
openness and space.
Raise the Rent
You can do this through some market research. If you find that 
you are  charging rent which is below the market standards 
then the situation is in  your best interest. Raise it!
Some investors may feel dubious about raising the rent and 
that’s exactly  how they end up losing potential tenants.
If the rent is in accordance with the market value, then tenants 
will know  that and they will not hop to another property 
knowing the rent will be the  same.
So, if you have an investment property, let it be managed by 
the Freedom  property managers in Melbourne.
GET IN TOUCH
1 Raphael St, Hallam VIC 3803
047 637 2002
[email protected]
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